Swithering - to sell or not to sell?

[5wany]

Bit of background- use my X for work related site visits for my employer and avg 700-800 miles month

So I return to work after holidays to work email, continued cost cutting / saving measures, pay freezes, and now "we are taking away car allowances (£50month) and 40p a mile rate and issuing fleet cars (corsa/polo low CO2 base modules)

Up shot I'm probablly 3k worse of a year (b4 depreciation due to miles)

Pretty p1ssed off

Tend not to do much weekend driving, so will mostly be commuting a round trip of 15miles day to park up and run around in a "eco shopping trolley"

I've been driving for nearly 25 years and tbh getting pretty fed up with it but since having the X5 it put a smile back on my face.
Argh............to55 end bankers, their greed phucs it up for everybody else and now they sail of into sunsets with new bonuses.

[NewX5]

Is it going to happen asap or do you have time to sell your vehicle If you decide to do so?

[5wany]

I do have time to sort things out. My work are implementing this for end March, and my MOT is due next month, so I will get that done and then decide.

[X5Sport]

Can you afford to take it out of service and effectively put it into storage and maybe put it on a low mileage policy?

Can you refuse the company car? Remember you are entitled to claim the £0.40ppm for up to 10,000 miles per year from HMRC, even if your employer pays you less. My employer pays about £0.15ppm so I claim the difference. Once over 10k miles the HMRC Allowance drops to somewhere around £0.25ppm I think, but I can still claim the difference.

[5wany]

[quote=""X5Sport""]
Can you refuse the company car? Remember you are entitled to claim the £0.40ppm for up to 10,000 miles per year from HMRC, even if your employer pays you less. My employer pays about £0.15ppm so I claim the difference. Once over 10k miles the HMRC Allowance drops to somewhere around £0.25ppm I think, but I can still claim the difference.[/quote]
Cant refuse, its not even going to be a real "company car" as will be left at employers place overnight. Didn't realise you could claim any difference upto £0.40ppm, but it wont apply for me though as with the new "policy" its a take or take it scenario.

think I'll go and get a whiskey and loose my thoughs in a book

[Chompers]

5wany, sorry to hear of your woes, however are things as bad as you make out? you state that you do about 800 miles a week business mileage for which you get 40ppm thats £320. In terms of the real cost of fuel I guess its around the £200 mark so your down £120 a month = £1440 a year = £50 month car allowance £600 for the year giving a total of £2040 a year not £3k as you state. Not sure what private mileage you do a year but any reduction can only be seen as helpful in terms of depreciation, hard to place a figure on this as again don't know your 'X's details. Surely doing less miles in the 'X' will also reduce wear and tear in turn reducing running cost still further!!! I am also guessing that your car allowance is paid to you via your salary and as such with this being withdrawn will reduce your tax bill. Based on these figures, your maybe not as much out of pocket as you think.

So why would you want to sell?

Please don't think I am taking the p!SS here I'm not, when times are hard as they are now and have been for a while its difficult to see through the fog of disappointment when things crop up like this.

[5wany]

£50 included tax, we get £68.90 per month b4 tax, with mileage prob is closer to 2-2.5k loss year. Still not happy.

Unions are now involved so will see what transpires.

We are a two car family and with the work subsidy it was easy to justify having the X, but with the subsidy gone its harder to justify. Could always sell the wifes car an let her walk